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Tosyali to build steelmaking plant in Ethiopia


Turkey’s Tosyali Holding is planning to build a steel plant in Ethiopia, Africa, the company has announced. The mill will produce billet and rebar, and will reduce the country’s reliance on imports, chairman Fuat Tosyali said.

Fuat Tosyali said the mill will first meet the local demand for rebar, and then target exports, mainly to African nations. He added that the company also plans to invest in Ethiopian iron ore. Ethiopia has about 70 million tonnes of iron ore reserves, according to the Geological Survey of Ethiopia.

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